April 17, 2017

C-Level Selling - 6 Steps to Get Your Higher Price

Sell in the C-Suite

Don’t bypass the subordinates, but don’t get stuck there either. C-levels are looking for value, not price. Subordinates are looking for whatever they think their boss, the C-level, General Manager, Profit Center leader wants. Only the C-level boss knows what s/he wants. It’s up to you to find out.

Don’t confuse price with affordability.

If a company is doing well as indicated by the surroundings and the moral of the employees, the company can afford it. If the opposite is visible – poorly kept conditions and miserable workers, you’re going to have a tough time giving away ice in the Sahara. On every new prospect visit I always check out the lobby and go immediately to the men’s room to secure my initial impressions. Then, I talk to the people. I ask, “How business?” and listen. From this you’ll be able to tell quickly if you’re coing to be able to create change there.

Never give your price …

Until you’ve had a conversation with all the players, especially the ultimate decision-maker you don’t know what to charge – no matter what the subordinates tell you. The reason is that the boss wants something and s/he is willing to pay for it. You need to know what that is. Tell subordinates you’d be happy to give a price, or you think you can meet whatever price is acceptable, but you’ve got to talk with all the deciders, including the boss. Make that known upfront as soon as someone asks for the price.

Don’t defend your price.

When someone says your price is too high or indicates the price is too high, say something like, “I can appreciate what you’re saying.” But then say, “OK, what else?” and then shut-up. This is a critical question. Price is usually not the issue. It’s the perceived value of the price that’s causing the problem. “What else” will ferret that issue out. I’ll tell you more on how to handle “that other issue” when we cover “Handling Objections.” Another good tactic when someone says you’re price is too high is to say, “How high?” And then, listen while shaking you head in agreement.

Never believe a subordinate.

Many times subordinates feel the price is too high because they are afraid their boss will think it’s too high. They feel it is their duty to get a “good deal.” Usually their perception is focused on price because that’s what they think the boss is thinking. BTW they are usually wrong. All the more reason to get to the C-Suite and talk to the ultimate decision-maker

Never be afraid you will lose the sale because of price.

If you feel fear, they will pick-up the smell and work you like a violin. Be afraid you haven’t talked to all the players and learned what the real decision criteria are. If you know what the ultimate decision-maker wants, you’ll be able to justify price. You’ll justify your price based on your ability to deliver it with minimize risk of failure, and most importantly, give him what he wants.

Remember; Sell to the C-level and use, “OK, what else?” and you’ll never have to worry about getting your price again.